Generational Transitions for Sustained Growth in Family-Owned Tourism Businesses: Moving Past Socio-Emotional Wealth

This paper explores the role of generational transition in ensuring the long-term success of family-owned tourism businesses, focusing on overcoming the limitations of the Socio-Emotional Wealth (SEW) framework. While SEW emphasizes preserving family identity and emotional ties, it can sometimes hinder innovation and strategic growth. Through a case study of a family-owned hotel in Ischia, Italy, this research examines both a past successful transition and an ongoing one. The findings suggest that while SEW remains crucial for maintaining family values, its impact can be moderated through strategic planning, open communication, and intergenerational collaboration. The study offers practical strategies for balancing family legacy with the need for professionalization and adaptability, providing insights into how family tourism businesses can achieve long-term success while preserving their heritage.